The price of silver has been increasing steadily for several years since the supply of silver cannot meet the high and constant demand. In fact silver supplies are diminishing. The most widely accepted silver spot price on the live market is by the troy ounce, which our charts update on a live basis. The spot price is not the same as silver bullion prices, because it does not include distribution, manufacturing, and dealing costs. ARE THE SILVER PRICES PER OUNCE THE SAME AROUND THE GLOBE? One troy ounce of silver is the same around the world and for larger transaction are usually priced in U.S. dollars as that is the most active market; however, the value of an ounce of silver can be higher or lower based on the value of a nation’s currency.